The Arab-African Bank is currently preparing a feasibility study for the construction of the first Arab plastic and rubber waste recycling company, in a bid to decrease pollution and improve environmental standards in the region, reported Al-Sharq Al-Awsat.

Head of the Arab Plastic Association, Hassan Zaki Hassan, said that the Council for Arab Economic Unity gave the green light to the association to begin building the recycling facility.

Hassan added that the association has solicited more than 800 plastic factories in Egypt and the Arab World to invest in the new plant, whose capital will stand at $100 million.

Head of the Arab Plastic Association, Hassan Zaki Hassan, estimates Egypt’s industrial waste at 15 million tons per annum and the accumulated industrial waste of the Arab World at 500 million tons per annum, reported Al-Sharq Al-Awsat. — (menareport.com)